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According to the Financial Times story cited in this article, Morgan Stanley and Citigroup will have to wait up to two years to gain the full benefit of their $14bn-a-year brokerage joint venture due to the complexity of merging information technology systems. But what will the industry look like in two years? That's anyone’s guess but one thin...

Just a quickie, but I read in the paper the other day that Institutional Investors were worried that the incentives for Stephen Hester to sort out RBS weren't generous enough, which is an interesting take on the issue of executive pay after all we've heard about the immorality of rewarding failure. What I thought rather revealing, however, is that...

The marketing people at my bank have really been busy recently, and certainly doing their bit to keep the Royal Mail going. Over the course of one week, we received five – yes 5 – mailshots offering u...